The financial watchdog, the FCA, wants to crack down on high-cost-credit, an issue which effects more than 3 million people in the UK. The Financial Conduct Authority has announced plans to cap fees in the rent-to-own market, where you can but furniture or appliances by way of weekly or monthly payments, at a high interest rate. They also want to crack down on doorstep lending, where the lender comes to your home and collects payments. It also wants stricter regulations on catalogue shopping, which also charge an extortionate amount of interest on the goods they sell. On overdrafts, the FCA … Read more